Álvaro Uribe assured that Gustavo Petro “is a danger to private enterprise”

Former President Álvaro Uribe once again questioned presidential candidate Gustavo Petro, this time about policies towards companies, following the signing of a document that the presidential candidate signed to pledge not to expropriate.

The candidate of the Historical Pact decided to make a legal bully to get rid of one of the most common attacks in his campaign that accused him that, if he won, he would use the power of expropriation against private property or companies. Petro and his Francia Márquez formula signed a document at Notary 17 to undertake not to expropriate with the possibility of being accused of breaching a campaign promise or falsehood in a public document.

The explanation has been questioned for its legal effectiveness, although it corresponds to a commitment of the candidate. One of the critics was former President Álvaro Uribe, who questioned the candidate's document and policies, for his repeated warning: “Watch out for the vote.”

“Petro has been a danger to private enterprise, they haven't invented public writing to hide it. And with private enterprise missing due to expropriation, or inoperative due to taxes and regulations, social policy runs out of resources,” former President Uribe wrote on his Twitter account.

This is a repeated criticism of the former president who had already said: “Petro does not overcome poverty but everyone is left poor. With or without expropriations, with taxes and regulatory limitations it kills private enterprise or renders it inoperative. Without the dynamism of private enterprise, the country runs out of resources for social policy.”

Among the proposals that Petro has launched regarding taxes or companies are two main ones. On the first, a new levy for the 4,000 richest in the country, but that would not affect the middle class or the poorest.

“Where will the tax fall? We are not going to do it for employees, we are not going to do it about those who eat and those who eat, that is, about the population, but about the four thousand greatest fortunes in Colombia, and about those four thousand richest people, not about their productive companies, but about their unproductive assets: dividends, transfers to the foreigners, tax havens,” Petro said in a presentation in Medellín.

In September 2021, in the midst of the tax reform discussions, Uribe proposed a one-time tax on the country's largest assets, as well as a new additional levy on pensions and higher incomes.

With regard to companies, the candidate has also proposed a redistribution of profits between employers and workers. According to him, it will be done on the basis of a reduction in production costs by policies that will lead to reduced energy and financial expenditures.

“All profits that entrepreneurs make from the reduction of production costs that our government will achieve: for import protection, by reducing energy and financial costs, must be distributed among the businessman and the workers,” he also stated in September 2021.

According to La Silla Vacía, Petro proposes to increase taxes on dividends with progressive rates from 0 to 39% depending on profits. Thus, those who earn the most should pay more. In addition, there is an obligation to distribute dividends to collect from shareholders.

The program also ensures that the reactivation and creation of enterprises will be promoted, linked with public banking, the popular economy, urban and rural for the generation of employment. You will look for low-interest, forgivable lines of credit and benefits such as payroll financing or utility discounts.

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